On July 21-22, 2020, CLDP continued its participation in a series of workshops for interested stakeholders in the Government of Uzbekistan organized by the U.S. Securities and Exchange Commission (SEC) on technical aspects of securities market regulation. After overview programs last week including a CLDP presentation on the planned process for drafting Uzbekistan’s new capital market laws, speakers from the SEC and U.S. Treasury provided deeper perspectives on such topics as the role of enforcement and investigations, market intermediary licensing and registration, and self-regulating organizations. CLDP is leading the interagency assistance to Uzbekistan’s Capital Markets Development Agency as it begins drafting new laws to regulate Uzbekistan’s nascent market. Protection of both domestic and foreign investors through legislative reform and rule of law initiatives in Uzbekistan will mobilize tremendous capital for economic growth and development and will level the playing field for the entry of U.S.-based investors and market intermediaries. Global experience demonstrates that well-regulated, competitive, and innovative capital markets, characterized by honesty, integrity, disclosure, and transparency, are essential to power economic growth and to meet basic human needs in emerging markets.